Sell Same Product with Different Units of Measure:

In some case, where you buy an item in a box or cases, but still sell separately, you can see how many separate products are there in each box or case. This way, when you purchase the item, the system will store individual items into your inventory.

This particular add-on helps you in selling product with different Unit of measure (UOM). For E.g. you can buy a product in Box or cases and sell the same in both, the box and single unit.

Scenario: How to maintain the multiple sales units of measure for a particular item in a single area? Sales orders with different meanings may have different units of measure for the same material in the same sales area.

Advantages/Features of the Tally Customization Solution:

Buy and sell product in different unit of measure (UOM).

You can also set different rates/price to different units. E.g. 1 unit SAR 10 and 1 Box SAR 100.

It provides error free stock summary.

Print in different Unit of measure (UOM).

Better Invoice format with English and Arabic fonts (Bilingual).

Better Customer Quotation/Sales Order with English and Arabic fonts (Bilingual).

Allows you to supply goods to different projects of same customer.

Allows user to specify Delivery Terms and Payment Terms in quotation.

Helps you to enter Validity of the quotation.

Useful for Cash and Credit sale.

Search/Filter invoice at one click with invoice number.

Print Invoice or Customer quotation/Sales Order in letterheads.

Specify paper measurement as per your requirement for printing.

The below screen gives you the clear image of the solution:

You can also set different rates to different units as shown below:

The print view of the sales invoice looks as shown below:

The print View of Customer Quotation looks as shown below:

Search/Filter invoice at one click with invoice number as shown below:

At present, Tally.ERP 9 is one of the most popular accounting software that handles all the day to day routine operations of any business organization effectively.

It is widely accepted for its user friendly nature. Tally provides different accounting and inventory features that allows the user to maintain their books of accounts.

Accounting Additional Cost of Purchase / Solutions for importing business

In most cases, more than one item is purchased, which is charged at a lump sum amount. However, in order to give an effective cost including the expenditure made for each item, an additional cost of purchase option is used.

This process is automated and the allocation of the expense to the inventory item can be done in a predefined way.

This feature is only available on the Purchase Vouchers. When we purchase something the additional costs can be charged such as VAT, labour fee, discount, shipping charges etc.

All these costs will be added to the stock and will increase the cost of the particular item. Before selling the stock, we must determine the actual Price / stock unit by following the Additional cost of purchase.

It is specially designed for Importers where additional cost is payable to the vendor other than the product supplier. It generates accurate O/s payable balance of product Supplier.

It will also give you proper Profit & Loss Account with the additional cost. It is useful when product Supplier is not given additional cost of purchase in the same invoice.

Advantages of the Tally Customization:

Get accurate cost of the product even with the additional cost incurred.

Get accurate payable of the Supplier for only product Value. It will ignore the additional cost of the same purchase which is payable to other vendors.

Get Accurate Profit & Loss Account for the additional cost.

It generates separate report of total Cost of the purchase including additional cost of purchase with Reference number.

In this purchase entry the product value is SAR 10, 000.00

Let’s take additional cost such as customs, Freight and Shipping cost of SAR 3000 in the same above purchase entry with our customized screen as shown below;

Your Stock Value in the Stock summary with above entry will look like below.

All businesses with more than one employee must have a payroll system. It not only affects the morale of employees, but also reflects the financial stability of the company. It is also a requirement to comply with federal and state laws.

Although this is a complex process, having an effective system helps to streamline and centralize the payroll method.

Basically, the payroll management process refers to the management of an employee’s financial records, including salaries, wages, premiums, deductions and net payments.

No matter, what’s the size of the organization, managing the payroll system is crucial. Company with fewer employees can use the single writing system.

New business owners who are not knowledgeable in the process may find the procedure challenging because of the various laws requirements that must be complied with.

To succeed in a world with greater time demands and leaner profit margins, we must find alternatives to the way we do our business.

Statutory compliance: All legal deductions, such as EPF, TDS, ESI, are deducted from the payroll. The company then remits the amount to the respective government agencies. The frequency can vary depending on the type of the payments.

In most cases, dues are paid through the challan. After all dues are paid return/report are filed. For example, ECR is generated and filed to fill the PF return.

Payroll accounting: Each organization maintains a record of all financial transactions. The paid salary is one of the important operating costs that must be reported in the books. As part of the payroll management, it is important to check that all salary and reimbursement data are properly fed into the accounting / ERP system.

Payment: You can pay salary by cash, cheque or bank transfer. Usually organizations offer employees a bank salary account. After completing the payroll, you must make sure that the bank account of the company has sufficient balance to pay the salary.

Then you must send a salary bank recommendation notice to the relevant branch. This statement is issued with particulars like employee ID, bank account number, salary amount, etc.

Reporting: When you complete the payslip for a certain month, the finance and high management team will ask of reports such as the cost of employees on a departmental basis, employee costs on a location basis, and so on. Get the necessary information and share the reports.

Create as many bank accounts as you want in Tally ERP 9 and save all details effortlessly. Details such as account number, IFSC and address are protected. Configure your cheque book details for each bank and activate automatic bank reconciliation.

A one-time entry of bank details for your parties ensures the smooth transfer of e-funds. By simply selecting your bank, Tally ERP 9 determines whether the transfer is the same as the company or interbank.

With Tally ERP 9 it is also easy to produce and print payment proposals for delivery to the supplier or other parties with cheques. Also, create deposit slips for payments that need to be deposited into the bank through cheque or demand drafts.

CHEQUE MANAGEMENT

Tally ERP 9 offers effective cheque management systems, allowing multiple cheque books to be created at unique intervals for each bank. You can also follow your post-dated cheques.

Protect multiple cheque books with cheque range and use for automatic increase cheque number during voucher entries. This, along with duplicate cheque number verification, reduces manual error and increases data entry speed.

Cheque recording is a tool used to manage cheques throughout their life cycle – from question to answer. Identification and reconciliation of unreconciled cheque is only one click away. Tally ERP provides more than 350 cheque formats supported by TSS.

Enjoy flexibility in defining cheque dimensions according to your needs. Use the cheque print report and print multiple cheques at once.

BANK RECONCILIATION

The difference between book balance and bank balance is very common, but the differences can be reversed in the finished bank balance. It is very important to reconcile your account books with your bank accounting system.

With Tally.ERP 9, you can easily access the correct information using Bank History to cheque your receipts. View validation statements based on clearing date for smooth and seamless reconciliation.

E-Payments

The ease of making your payments anytime, anywhere is now possible with Tally.ERP 9. Tally ERP 9 syncs bank masters, party masters, and receipt entry to a common platform that sends the payment transaction to the bank.

The e-Payments feature in Tally.ERP 9 allows you to transfer electronic funds from one bank to another. You can choose to pay with E-Fund Transfer, Electronic Cheque or Electronic DD / PO.

You can send complete payment transactions to the bank from the correct bank information, receipt creation, or an intuitive e-Payments report. Tally.ERP 9 e-Payments are supported for both merchant and payroll payments.

At Tally.ERP 9, you can easily determine the cost-effectiveness of a project, a department or a team or employee.

Revenue calculations and cost breakdown report become a strong performance profit and loss that reflects the activities of the cost center / profit center.

For example, you can: 1) spend on employees / projects and identify the most effective sources. 2) Deploy revenue and expenses to the sales team and check their performance.

Cost centers and profit centers are the reasons for a business to be successful. A cost center is a sub-unit of a company that considers the costs of a unit.

On the other hand, the profit center is a sub-unit of a company responsible for revenue, profits and costs.

Thus, a cost center helps a company to define and reduce costs as much as possible.

The profit center acts as a subdivision of an entity because it controls the most important key factors of each business.

You cannot see the cost center and profit center in a central company. Since the control of the company is from a small team which is working from the top.

In a decentralized company where control and responsibility are shared, you will be able to see the availability of cost and profit centers.

Cost centers are the requirement of a business. However, other management thinks that even profit centers are the main components of a good business.

It is important to measure the performance of cost centers and we do this using variance analysis.

The performance of the profit center should also be measured. Measurement of profit center is the percentage of gross profit, percentage of net profit, percentage of expenditure / sales, profit per unit and so on.